Manulife Hong Kong has launched two new critical illness insurance products. These plans aim to provide income support for customers facing long-term treatment, helping to reduce financial burdens.
IncomeGuard Critical Illness Protector Offers Broad Coverage
One of the new products, IncomeGuard Critical Illness Protector, covers 121 critical illnesses and diseases. It includes a special heart attack and stroke continuous treatment benefit. After an initial payout, customers can receive up to 100% of the notional amount for certain complex or major surgeries.
Customers diagnosed with cancer, heart attack, or stroke can get annual income support of up to 1,000% of the notional amount. The plan also features premium waivers, reimbursement for traditional Chinese medicine linked to cancer treatment, a Protection Restore Benefit, and a guaranteed premium for 10, 20, or 25 years.
IncomeShield Critical Illness Protector Focuses on Major Diseases
The IncomeShield Critical Illness Protector focuses on cancer, heart disease, and stroke. It uses simplified underwriting with only three health questions, making it easier for customers to apply. It offers annual income support of up to 500% of the notional amount and the same continuous treatment benefit for heart attack and stroke as IncomeGuard.
Other benefits include a Late-stage Cancer Advanced Benefit, premium waivers, the Protection Restore Benefit, and guaranteed premiums over 10, 20, or 25 years. According to the latest news, this move strengthens Manulife’s offerings for serious illness protection.
Consumer Research Highlights Key Concerns
Manulife’s research showed that 53% of consumers want broad coverage for different illnesses. About 39% value access to support services, while 37% look for protection against recurring illnesses. In related news, 39% of people said income loss after a diagnosis was a major concern, and 34% worried about becoming a burden to their families. Additionally, 25% cited higher premiums with age as a key issue.
Manulife Strengthens Its Market Position
With these two new products, Manulife Hong Kong aims to address the real financial worries of customers after a critical illness. The company hopes to provide better protection, more support, and peace of mind through its latest offerings.
Related topics:
